Q2 2023 ResultsOn the whole, an improvement and trending in the right direction. (Their news release contains an obvious error though ("first quarter" instead of "second quarter" in the very first paragraph and table) - would be nice if they can proofread before publishing if I am nitpicking.)
Some things I thought were noteworthy in my brief read:
- Decrease in billable hours is due to increased competition by smaller staffing agencies, including staff going to other agencies. Something to keep an eye on perhaps, because the hours billed has been steadily declining.
- Reduction in Long Term Debt by about $1 million quarter on quarter - good to see.
- Reduction in Receivables only by about $1 million quarter on quarter - still some work to do there.
Overall seems positive, but with some caution both with regard to Bill 10, and with regard to how competition with smaller agencies in Quebec develops. I continue to hold but don't see enough to add at this time, although we should move up into the 30's at least I would hope.